Technavio's Library Management Software Market Report Highlights the Key Findings in the Area of Vendor Landscape, Key Market Segments, Regions, and Latest Trends and Drivers

Vendor Landscape
The library management market is fragmented due to the presence of several players and is expected to remain fragmented during the forecast period. Vendors are deploying various organic and inorganic growth and business strategies to compete in the market.

 The presence of many players, which continuously offer innovative products to have a strong foothold, will augment the competition in the market. Product selection has also become convoluted with the availability of advanced software, thus intensifying the competition. Major vendors are selected based on revenue, popularity, product range, and user base. The market is expected to grow substantially during the forecast period due to strategic M&A deals among players in the online and offline content space.

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• Awapal Solutions Pvt. Ltd.
• Axiell Group
• Civica UK Ltd.
• CR2 Technologies Ltd.
• Insight Informatics Pty Ltd.
• PowerSchool Group LLC
• PrimaSoft PC Inc.
• ProQuest LLC
• PTFS Inc.
• Soutron Ltd.

View more about the market's vendor landscape highlights with a comprehensive list of vendors and their offerings.

Key Market Segmentation

• Segmentation by End-Users: 
• School Libraries
• The library management software market share growth by the school library segment has been significant. School libraries include those in kindergarten up to grade 12 are high in number in countries such as India, the US, Russia, China, and Japan. In countries such as the US, there is an increased demand for proprietary software, which helps in revenue generation. The platform allows student engagement by letting them borrow, browse, and book activities online across various devices.
• Public Libraries
• Academic Libraries
• Others
• Segmentation by Deployment:
• Cloud-based:
• The growing adoption of cloud-based solutions can be attributed to the extensive use of the Internet. The advantages of cloud-based services include scalability, reduced costs, and easy up-gradation compared with the traditional implementation procedure.
• The benefits of cloud-based library management software are:
• Predictable expenses
• No requirement for a powerful local server
• No maintenance fees
• Low IT personnel costs
• Inclusion of free upgrades in the subscription or support fees

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Regional Market Outlook
51% of the market's growth will originate from North America during the forecast period. The US is a key market for library management software in North America. Factors such as better connectivity, high-speed broadband, and the adoption of digital technologies by students and teachers drive the development of digitalized and automated library systems on a large scale in America.

The development of diverse library management software in the region is driven by the use of technologies based on web resources as well as innovative IT solutions that promote a better learning experience.

The rising adoption of online education enhanced the use of cloud-based services, accelerated digital transformation, increased the need for the latest technologies, and created a stronger demand for library management. Such factors will drive the growth of the library management software market across the region during the forecast period.     

Download our FREE sample report for more key highlights on the regional market share of most of the above-mentioned countries.

Latest Trends, Driving the Library Management Software Market

• Market Driver:
• The Rise in demand for library management software from APAC areas
• In the worldwide library management software industry, the use of open-source library management software is a key trend. The growing demand from countries, such as China, India, and Japan, is expected to propel the market growth in APAC. In these countries, more companies are investing in library automation and library management software. In February 2020, the Department of Public Libraries in Bengaluru, India, announced the launch of a library app, which can be used to access close to 100,000 books, journals, and textbooks by the members of state libraries. The platform will include books alongside multimedia material that will promote learning, especially for higher education students and those preparing for civil service exams.

• Market Trend:
• The increase in the use of open-source library management software
• The implementation of open-source library management software is a major trend in the global library management software market. Any library having an open-source license, which denotes software that is free to reuse, alter, and/or distribute without permission, is considered an open-source library. Due to ease of access and availability the library management software market is likely to rise significantly throughout the forecast period.

Find additional information about various other market drivers & trends mentioned in our FREE sample report.

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